Kiker Wealth Management LLC acquired a new stake in shares of Griffon Co. (NYSE:GFF - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,180 shares of the conglomerate's stock, valued at approximately $868,000.
A number of other institutional investors have also modified their holdings of the stock. Raymond James Trust N.A. grew its holdings in Griffon by 5.1% during the third quarter. Raymond James Trust N.A. now owns 3,487 shares of the conglomerate's stock worth $244,000 after acquiring an additional 168 shares during the period. Optimist Retirement Group LLC boosted its position in Griffon by 5.3% in the 4th quarter. Optimist Retirement Group LLC now owns 3,592 shares of the conglomerate's stock worth $256,000 after purchasing an additional 181 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in shares of Griffon by 5.9% during the 4th quarter. Axxcess Wealth Management LLC now owns 5,701 shares of the conglomerate's stock worth $406,000 after purchasing an additional 319 shares during the period. Colonial River Investments LLC increased its holdings in shares of Griffon by 6.5% during the 4th quarter. Colonial River Investments LLC now owns 5,733 shares of the conglomerate's stock valued at $409,000 after purchasing an additional 351 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its stake in shares of Griffon by 1.1% in the 3rd quarter. SkyView Investment Advisors LLC now owns 34,780 shares of the conglomerate's stock valued at $2,435,000 after purchasing an additional 384 shares during the period. Hedge funds and other institutional investors own 73.22% of the company's stock.
Griffon Price Performance
Shares of GFF traded down $0.17 during mid-day trading on Tuesday, hitting $74.32. 567,537 shares of the company were exchanged, compared to its average volume of 401,073. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 15.17 and a beta of 1.40. Griffon Co. has a 1-year low of $55.01 and a 1-year high of $86.73. The company has a 50 day moving average of $74.32 and a 200-day moving average of $72.55. The company has a debt-to-equity ratio of 6.44, a quick ratio of 1.34 and a current ratio of 2.51.
Griffon (NYSE:GFF - Get Free Report) last released its earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.11. Griffon had a return on equity of 120.61% and a net margin of 9.13%. Analysts expect that Griffon Co. will post 5.55 EPS for the current fiscal year.
Griffon Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.72 annualized dividend and a yield of 0.97%. Griffon's dividend payout ratio (DPR) is presently 14.69%.
Insider Transactions at Griffon
In related news, Director Cheryl L. Turnbull sold 3,000 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $80.80, for a total transaction of $242,400.00. Following the transaction, the director now directly owns 30,730 shares in the company, valued at approximately $2,482,984. The trade was a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 10.20% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on GFF. Loop Capital raised shares of Griffon to a "strong-buy" rating in a report on Friday, February 14th. Raymond James reaffirmed a "strong-buy" rating and issued a $95.00 price target (up previously from $92.00) on shares of Griffon in a report on Thursday, February 6th. Stephens increased their price target on Griffon from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Finally, StockNews.com cut Griffon from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $98.75.
Get Our Latest Stock Analysis on GFF
About Griffon
(
Free Report)
Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.
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